CALGARY, ALBERTA--(Marketwired - Jul 4, 2013) - BEAUMONT SELECT CORPORATIONS INC. ("Beaumont") (TSX VENTURE:BMN.A) announced that it has filed with the TSX Venture Exchange a Notice of Intention to Make a Normal Course Issuer Bid which shall commence on July 8, 2013 and terminate on July 7, 2014 or the earlier of the date all shares which are subject to the Normal Course Issuer Bid are purchased. This Normal Course Issuer Bid follows the one Beaumont commenced on July 2, 2012 (and which expired on July 1, 2013) pursuant to which Beaumont purchased 5,500 Class "A" shares.
In the opinion of the board of directors of Beaumont, the market price of the Class "A" shares of Beaumont does not accurately reflect the value of those shares. As a result, Beaumont's Class "A" shares may continue to become available for purchase at prices which make them an appropriate use of funds of the company.
Beaumont intends to attempt to acquire up to an aggregate of 808,304 of its Class "A" shares over the next 12 month period representing 5% of the issued and outstanding Class "A" shares. There were 16,166,097 Class "A" shares of Beaumont issued and outstanding as of July 4, 2013.
Purchases subject to this Normal Course Issuer Bid will be carried out pursuant to open market transactions through the facilities of the TSX Venture Exchange by Macquarie Private Wealth Inc. on behalf of Beaumont. Once purchased the Class "A" shares will be returned to treasury for cancellation.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
- Investment & Company Information
- TSX Venture Exchange
Winston Ho Fatt
Chief Executive Officer and President